Let us first take a look at the bright side of non-stop mobile entertainment, parties, and gaming at multiple locations when needed. All of these have made the gaming truck business one of the newest and lucrative entertainment opportunities to go into. But it’s not all good news which is understandable as all businesses come with risks. Thus, reinforcing why one must know the pros and cons of owning a game truck business.
A Game Truck Business
A gaming truck business is now one of the many unique ways to offer gaming services with a market capitalization of $48.2B. The minimum and maximum costs of starting this business stand at $3,091 and $41,723 respectively. According to the Starter Story, the average for this start-up is $22,482.
The concept of the business is simple and entails owning a truck or trailer packed with enough gaming gadgets and accessories to carry out the usual gaming activities or game parties where possible. The owner of the gaming truck has opportunities to create activities that can draw customers to his base, and one of the best ways to pull this off is by hosting game parties. So, the profitability of your gaming truck business depends on the number of such parties your business is able to carry out perhaps per month. Game truck businesses that are able to organize up to 40 parties in a month are close to a yearly target of $108,731.40. Keep in mind that game trucks average from $290 per party. The website buyavideogametruckbusiness posits that the possible breaking point after start-up can be reached with 6 parties per month.
Accessories Needed To Start Your Gaming Business
The beauty and key selling point of any game truck would be the gadgets and accessories owned by the business. The size of the game truck determines the investment to be carried out in accessories.
The basic accessories include:
- 1 large commercial generator
- 4 – 7 televisions
- Gaming systems – Wii U, Playstation 4, Xbox One, and Xbox 360
- LED lighting set-up
- Stadium seating
- Bluetooth-enabled soundbars
- Cooling and heating systems
- A virtual reality headset.
Accessories to be gotten also depend on how large the business is and the start-up cost attached to the business plan. Some other overhead costs of running the business monthly should also be considered as costs also vary based on the region and location of the business.
- Trailer parking/storage
- Advertising and website maintenance
- Payment/merchant fees
- New games/technology/truck upgrades and repairs
Pros and cons of owning a game truck business
1) High Customer Retention rates
Game truck businesses offer entertainment services, so it’s easy to retain customers. The best way to sustain that is by providing a quality experience every time customers party with you and they would always come back.
2) Choosing the customers you work with
Game truck businesses are carried out based on booked events. These allow the business owners to be in charge of the customers they allow into and out of their trucks. They have the liberty of picking who they work with.
3) High pay rate
Each gaming party makes a game truck business at least $250 and as earlier stated the profitability of the business now depends on how many parties the truck can successfully carry out in a month. Therefore, with a high number of parties, the business can boast of a high paying rate.
4) Demand and trend
With the constant need for evolution in business practices in every sector, this business gives you the opportunity to meet new gaming standards and offer uniquely built services.
5) Gain exposure and experience.
A game truck business feeds off the different atmosphere, from various locations, all of which come with exposure. The business is carried out in different locations allowing the owner and his team to be aware of new happenings, different customers, and geographic requirements.
1) Work could be inconsistent
The profitability of the business lies in the ability of the business to book and carry out gaming activities as much as it can. This makes the work inconsistent because if the parties do not happen, the bills would have to be paid some other way.
2) Equipment breakdown
Besides the usual wear and tear, clients damaging the equipment remains one of the biggest issues with gaming businesses. Game parlours literally make money off lending their equipment to users for a specified time, and there is no telling how careful each customer is. And as a result, there is no telling how careful every party would be.
3) More vehicle time
This business has “more vehicle time” written all over it. This means less time for other things because you might have to always be on the road. Your truck becomes a home you plan to get rich off of.
Security has to be guaranteed and for a business that is done at different locations, this can become difficult. Each location may come with a different issue and security operatives or personnel have to be on guard to ensure the successful completion of each party.
The pros and cons of starting a game truck business are to be reviewed and carefully considered by the business owner before starting. The pros may outweigh the cons but need to be handled as a point of advantage and not the other way round.